London Stock Exchange today welcomes Mercia Technologies PLC
London Stock Exchange today welcomes Mercia Technologies PLC, a Midlands based leader in the funding and commercialisation of technology businesses in the UK, to AIM, on which its shares begin trading today under the ticker MERC. Mercia raised £70 million and has a market capitalisation of approximately £106 million on its Admission to AIM.
Mercia's business is the creation, funding and development of technology businesses with an emphasis in the Midlands and the North of the UK. Mercia brings technology transfer, company formation, incubation, commercialisation and investment, to technology ventures.
Mercia has a well seeded portfolio and pipeline of investments. The Company has a direct investment in 11 operating companies and access to a portfolio of 38 businesses through its third party funds, managed by its wholly owned subsidiary Mercia Fund Management ("MFM").
Mercia’s strategy is to provide capital, infrastructure, accommodation and management support to accelerate the development and enhance value in selected technology businesses.
Mercia focusses on UK technology sectors which offer investment prospects with high growth potential, including: digital, electronics and hardware, advanced materials, engineering and specialised manufacturing and sub sectors within life sciences. The Company is focused on businesses which combine technology and service provision, are rich in intellectual property, are scalable and require relatively modest capital infusion.
Mercia has a flexible sourcing model which gives it access to a broad range of opportunities. The Company has collaborative relationships with nine universities in the UK, including the Universities of Birmingham and Warwick, which allow Mercia to access their flow of spinout and early stage investment opportunities, as well as a broad professional network through its management and associates.
The placing and Admission will assist Mercia in its development by: giving it access to the capital required to scale its direct investments and other ‘emerging stars’ from the MFM portfolio; supporting regional growth, both organic and through selective complementary acquisitions; and enhancing its scalable platform. The Company will also be in a stronger position to recruit experienced commercialisation professionals and expand the number of university partners.
Mark Payton, Chief Executive of Mercia Technologies PLC, said:
"We are entering the next phase of our growth as a leading national player in the development of technology businesses in the UK, by taking advantage of the significant opportunity in the Midlands and the North to scale the provision of efficient and targeted capital and support."
Cenkos Securities is acting as Nominated Adviser and Broker to the Company.